A lot of people who are not actively involved in horse racing do not understand that there is a lot of money which can actually be made betting on ponies. While it may be true that betting on a single race will earn you a few bucks, you will be excited to know that there are horse racing jackpots which are similar to the ones on lottery and football and these jackpots have the potential of making you an instant millionaire if you manage to win. There are quite a number of betting pools namely Pick 4, Pick 5 and Pick 6.
One of the main characteristics of a horse racing jackpot is that unlike betting on single races, jackpots can be entirely difficult especially in the case of a jackpot like the Pick 6 where a punter is required to bet on the winners of six consecutive races, but if you are into betting, you would realise that the harder the bet, the huge the payout and this is true because the Pick 6 is one of the most paying exotic in horse racing.
Horse racing has not been quite appealing to a fraction of punters due to the fact that they do not believe that it could win them enough money but the introduction of horse racing jackpots has changed all that as there is quite a lot of money to be won, even life changing amounts.
Which jackpots are there in Horse Racing?
The Pick 3 is another exciting horse racing where you are required to select not one, not two but three winners in three consecutive races. When betting on the Pick 3 bet, you will be the winner if you correctly select the winners of three consecutive horse races, being a jackpot, there can be more than one winner and if that happens, the prize pool will be equally shared amongst the winners. The winnings on Pick 3 are not fixed but they are determined by the pari-mutuel system where all the winning tickets share the pool of money collected.
Pick 4 is a very popular horse racing jackpot where a punter is required to select the winners of four consecutive races, it is a quite difficult bet but it can’t be any more difficult than the Pick 6 can it? There is no limit to how much you can win in the Pick 4 because the winnings for this pool are determined by the pari-mutuel system whereby the pool prize is the total of all the wagers by participants and all the winning tickets share the pool of money which has been collected. A lot of people are very skeptical when it comes to choosing just one winner in many races, and rightly so, the good thing about the Pick 4 is that you can either select single horses or you can add permutations to your bet, however this option can be very expensive
The Pick 5 is a very popular multi-race bet which pays handsomely if won due to the fact that it has extremely high odds. When you are playing the Pick 5, you must do the difficult task of correctly predicting the winner of five consecutive races. You can put yourself at a great advantage by picking more horses in each race but you need to realise that the cost of the wager increases as you add more horses in each race. If you feel that you cannot afford adding permutations, you can ask your friends to be part of a syndicate with you so that you can place the bet together and share the cost.
Pick 6 is a very popular yet difficult wager on horse racing where you are required to select the winners of six consecutive races. If you are into horse racing, you will know that it is difficult enough to select the horse racing winner in a single race, and it will be even more difficult to select six in a row with a Pick 6 Horse Racing bet. The Pick 6 is a type of wager that if you manage to correctly predict it, you will win a huge amount of money due to the high odds associated with such a bet. When betting on the Pick 6, you need to realise that you are allowed to select multiple horses in any race but you must keep it in mind that the cost of your wager increases with the number of horses you include in your wager.
How to bet on the Pick 4 Jackpot
There are two ways to look at horse racing jackpots, firstly jackpots can be cheap if you do not include permutations (a wager that involves a number of selections) but the downside of such a wager is that the likelihood of your bet failing is very high. Below is an example of such a wager;
1 x 1 x 1 x 1 x 1 x 1 = 1 unit
In order to calculate the potential payout of such a bet, you must multiply the number of units by your chosen stake,
1 unit x R100 stake = R100
If you want to enhance your chances of winning, then you would have to include permutations in your wager, this is an expensive option but what you would have is a bet that is more likely to win. Below is an example of such a wager;
2 x 2 x 2 x 2 x 2 x 2 = 64 units @ R100 stake = R6400
If it so happens that you wish to wager using the latter option but you do not have make use of syndicates so that you can share the cost of the bet.
What is a syndicate?
A syndicate in horse racing is a feature which allows a group of friends, family or colleagues to combine their money and build a wager together. The great thing about a syndicate is that it significantly reduces the cost per member of having to pay for the wager alone, so if you are trying to win big, consider pooling your money with a couple of friends at the races and increasing your chances.
What are Carryovers?
The good thing about the Pick 4 is that it makes use of a carryover, whereby all the bets in the original pool are carried over to the next designated race if there is no winner in the original day’s race.